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How to use volume in your trading
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How to use volume in your trading

  #231 (permalink)
Trade with the flow
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Dragon View Post
Hi Paris,
How did you get the triangles to plot below the dots in that last screenshot? I have seen indicators that plot shapes under candles where you can set the distance above/below the candle in the indicator settings. I have VolumeSpike drawing dots now but the dots paint on top of the shapes painted from VolumeStop. Sometimes the signals become difficult to see.

This is what I meant by hacking up the code. I almost always modify indicators to customize them for me. In this case Iin the draw routine there is the NT property TickSize. I added a multiplier before it and set it to 2 I think. so it plots 2*TickSize. That lets them both plot without covering each other up.

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  #232 (permalink)
Trade with the flow
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Here is the template, but yours probably won't look exactly like mine cause I modified the two indicators. I commented out the line drawing on the volume stop and moved the markers down another TickSize. On the volume spike I changed the arrows to dots, I prefer to reserve the arrows for when I mark my own trades.

Heck here are my version of the indicators. They will overwrite the "official" ones so import at your own risk, I'm not going to bother renaming them all.

Let me know if it works.

BTW the template is called Naked4. The reason is I started with only volume patterns and called it Naked. I then added things slowly one at a time. Took me a few weeks to get from Naked1 to 4 and it's not naked any more.

EDIT: I didn't realize it but the phase shift oscillator is VIP-only so if you want this pack you can get it here:

https://futures.io/elite-circle/659-d9particleoscillator-27.html#post13294

Attached Files
Register to download File Type: xml Naked 4.xml (22.9 KB, 82 views)

Last edited by cunparis; October 30th, 2009 at 01:20 PM. Reason: PSO is VIP only
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  #233 (permalink)
Market Wizard
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alex123 View Post
hope it help. if you have any modification and suggestions, please let me know.

alex

the rays got all messed up however if you take the ray-break-out trade that will be 4 for 4, interesting.

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  #234 (permalink)
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cory View Post
the rays got all messed up however if you take the ray-break-out trade that will be 4 for 4, interesting.

I didn't understand what the rays were for so I turned them off. I'll have another look at the ray breakout.

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  #235 (permalink)
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DavidHP View Post
Here is the guy that is developing the indicator for TS. This is his site:

Trade Point Technologies

Hi David, sorry for the delay in getting back to you. I'm researching this right now.

I love this quote:


Quoting 
Most all retail trade uses indicators that have price as their only input - adaptive moving averages, exponential moving averages, RSI, Stochastic, Bollinger Bands, CCI etc. Regardless of time frame or combination of time frames these indicators have no chance of ever defining trade or leading it as they are based on price which responds to trade flow.

Price is motivated by trade not price itself.

This pretty much sums up my view on trading based on price.

RJay created a thread for this topic so I'll continue the discussion there. If we get anything interesting I'll post an update here.

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  #236 (permalink)
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cunparis View Post
Ok guys after fooling around for a while and hacking up the code, this is the template that I come up with.

The rule seems to be take a trade when you get 2/3 confirming signals.

Awesome stuff cunparis. I think adding volume, being independent of price, to price action analysis may make for a beautiful combination. Keep up the great work.

Blz

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  #237 (permalink)
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An Idea Regarding Volume

One of my goals lately has been to simplify my chart dramatically. So rather then having to analyze 6 different indicators I have been working towards being able to only analyze the price action in front of me. However, I am intrigued by the idea of utilizing volume as it's a factor that is independent of price. That being said I'm curious if rather then waiting for an alignment of Volume Stop, Volume Spike and Volume Patterns (or 2 out of 3 of those) it is better to stick with one volume indicator that best suits our needs. I guess what I'm saying here is; is it possible that waiting for an alignment of 2/3 volume indicators is the same as waiting for an alignment of 2/3 price indicators which as many of us have come to realize is a perpetual circle without success.

That being said I'm curious what everyone's thoughts are on these particular volume indicators. I am liking the way that the VolumeStop indicator lines up with some of my price analysis but to be honest I am still pretty darn ignorant on these volume indicators.

Blz

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  #238 (permalink)
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Blz17 View Post
That being said I'm curious what everyone's thoughts are on these particular volume indicators. I am liking the way that the VolumeStop indicator lines up with some of my price analysis but to be honest I am still pretty darn ignorant on these volume indicators.

Blz

https://futures.io/general-discussion/885-corys-volumestopv3-worth-look-8.html#post12564

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  #239 (permalink)
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My premarket trades. CL was tricky, Euro was so choppy I didn't trade it.

Total: ES +1.5 pts, CL + 1 tick (hey it's better than being negative)

Note: The CL trade that worked did not have Volume Stop or Volume Spike signals.
I have no rules set in stone, if a setup looks good I take it.

I have a question for you, should I post trades here or should I start a journal??

Attached Thumbnails
How to use volume in your trading-20091026-es-first-trade.png   How to use volume in your trading-20091026-cl-first-3-trades.png  
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  #240 (permalink)
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5min ORB trade on ES +1

Also identified a missed trade worth 2 pts on ES just after I exited my short..

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